Salt Edge Inc

EU Legislative Interests

Salt Edge actively engages with EU regulatory frameworks governing digital finance and open banking ecosystem development. Our primary focus encompasses the Payment Services Directive 2 (PSD2) implementation and evolution, including technical standards for Strong Customer Authentication (SCA) and secure communication between financial institutions and third-party providers. We monitor and contribute to discussions around the revised Payment Services Directive (PSD3) proposals and the Payment Services Regulation (PSR), particularly provisions affecting API standardization, data access rights, and cross-border payment facilitation. We closely follow the Digital Finance Package, including the Digital Operational Resilience Act (DORA) requirements for ICT risk management and third-party service provider oversight. The proposed Financial Data Access Regulation (FIDA) represents a critical area of engagement, as it extends open banking principles beyond payment accounts to broader financial datasets including mortgages, investments, and insurance products. Our interests extend to the European Digital Identity framework and eIDAS 2.0 Regulation, focusing on digital identity verification methods and their integration with financial services. We engage with the Data Act and Data Governance Act implementation, particularly provisions affecting financial data portability, B2B data sharing obligations, and the establishment of common European data spaces for finance. The EU's Artificial Intelligence Act impacts our data enrichment and categorization services, requiring compliance with transparency and accuracy requirements for AI systems in financial services. We monitor the Markets in Crypto-Assets Regulation (MiCA) for its implications on digital payment innovations and potential convergence with traditional banking infrastructure. Additionally, we track the Retail Investment Strategy proposals, the review of the Consumer Credit Directive, and the Instant Payments Regulation, all of which affect our payment initiation services and the broader open banking ecosystem. Our engagement focuses on ensuring regulatory frameworks promote innovation while maintaining security, consumer protection, and fair competition in European digital finance markets.

Communication Activities

Salt Edge actively engages in European open banking dialogue through strategic communication initiatives targeting diverse stakeholder groups across the EU financial ecosystem. We participate as speakers and sponsors at major European conferences including Money20/20 Europe, Paris Fintech Forum, and Open Banking Expo, delivering keynotes on PSD2 implementation, API standardization, and DORA compliance. Our technical workshops provide hands-on guidance for financial institutions navigating SCA standards and regulatory requirements. In 2024, our representatives presented at 25+ industry events, reaching over 10,000 professionals directly. Our corporate blog serves as a knowledge hub, publishing bi-weekly analytical articles on regulatory developments. Key publication series include "FIDA Implementation Roadmap" analyzing data access beyond payment accounts, and "PSD3 Evolution Guide" comparing current and proposed frameworks. These resources generate 50,000+ monthly views from compliance officers, product managers, and policy makers across Europe. We organize the annual Open Banking Innovation Summit, bringing together 300+ representatives from banks, fintechs, and regulatory bodies. The event features panels on instant payments adoption, AI governance in financial services, and cross-border data portability under the Data Act, facilitating direct dialogue between market participants and regulators. Salt Edge actively contributes to European Commission consultations and EBA working groups through detailed position papers. Recent submissions addressed API performance metrics standardization, providing real-world data from our platform connecting 5,000+ banks. We participated in FIDA stakeholder consultations, sharing empirical evidence on data access costs and technical feasibility across multiple jurisdictions. Our educational program includes monthly "Regulatory Compliance Masterclass" webinars reaching 2,000+ participants, covering DORA implementation, eIDAS integration, and instant payments regulation. We've published comprehensive whitepapers including "Building Resilient Financial APIs Under DORA" and "Maximizing FIDA Opportunities," downloaded 15,000+ times by industry professionals. Through partnerships with the European Fintech Association and national open banking initiatives, we co-author industry position papers and best practice guidelines. Our collaboration with academic institutions produced research on open banking adoption patterns across EU member states, providing data-driven insights for policy refinement. Our Developer Portal offers extensive documentation and sandbox environments for 5,000+ developers testing regulatory-compliant implementations. Regular developer meetups in London, Berlin, Paris, Milan, and Amsterdam foster knowledge exchange and showcase successful regulatory technology adoption cases. We publish the quarterly "State of Open Banking" report analyzing API adoption trends and regulatory implementation progress across EU markets, serving as an industry benchmark. This report examines PSD2 compliance rates, SCA implementation challenges, and emerging FIDA preparedness levels, distributed to 3,000+ subscribers including regulatory bodies, financial institutions, and technology providers. Our social media channels and LinkedIn presence with 10,000+ followers disseminate regulatory updates, implementation tips, and industry insights. We maintain dedicated communication channels for different stakeholder groups: technical integration guides for developers, compliance checklists for banks, and innovation frameworks for fintechs. Through these comprehensive communication activities, Salt Edge bridges the gap between regulatory requirements and practical implementation, fostering a collaborative ecosystem where innovation thrives within robust regulatory frameworks. Our efforts contribute to informed policy-making and successful digital finance transformation across Europe.

Interests Represented

Promotes their own interests or the collective interests of their members

Member Of

Primary Industry Associations: Salt Edge is an active member of the European Fintech Association (EFA), contributing to working groups on PSD2 implementation, API standardization, and cross-border payments. We participate in EFA's regulatory committees, co-authoring position papers on FIDA, PSD3 evolution, and instant payments regulation. We maintain membership in the Open Banking Implementation Entity (OBIE) Advisory Group, providing technical expertise on API specifications and security standards. Our contributions include benchmark reports on API performance metrics and recommendations for consent management frameworks. As a member of the European Payments Council (EPC) stakeholder forum, we contribute to SEPA payment scheme development and instant payment infrastructure evolution. We actively participate in working groups addressing API harmonization and payment initiation service standards. National Open Banking Initiatives: We are affiliated with Berlin Group as a technical contributor, supporting NextGenPSD2 framework development and implementation guidelines. Our technical team participates in API specification reviews and provides feedback based on real-world implementation experience across 5,000+ bank connections. Salt Edge maintains active membership in national fintech associations including Fintech France, Italian Fintech Association (ITA), Spanish Fintech and Insurtech Association (AEFI), and Fintech Romania. Through these memberships, we contribute to local regulatory consultations and support national open banking ecosystem development. Technology and Standards Organizations: We participate in the Financial Data Exchange (FDX) European expansion initiatives, contributing to global API standardization efforts and cross-regional interoperability frameworks. Our involvement focuses on aligning European PSD2 standards with global open banking protocols. As contributors to the OpenID Foundation, we support Financial-grade API (FAPI) security profile development and OAuth 2.0 implementation standards for financial services. Our technical team actively participates in security working groups and certification programs. Strategic Partnerships and Sponsorships: Salt Edge sponsors major industry events including Money20/20 Europe, Paris Fintech Forum, and Open Banking Expo, demonstrating commitment to industry education and innovation. We regularly host technical workshops and knowledge-sharing sessions at these events. We maintain strategic partnerships with technology providers including Amazon Web Services (AWS) for cloud infrastructure, maintaining AWS Financial Services Competency status. Our partnership with Microsoft Azure supports hybrid cloud deployments for enterprise clients requiring specific data residency compliance. Academic and Research Affiliations: We collaborate with the European Banking Institute on research projects examining open banking adoption patterns and regulatory impact assessment. Our data contributions support academic research on financial innovation and digital transformation in banking. Salt Edge partners with technical universities including Technical University of Munich and Polytechnic University of Bucharest on fintech innovation programs, supporting student projects and providing mentorship for open banking initiatives. Compliance and Security Organizations: We maintain ISO 27001 certification through BSI Group and participate in their Financial Services Special Interest Group. Our membership includes access to best practice frameworks and continuous improvement programs for information security management. As PSD2-licensed entities registered with multiple National Competent Authorities across Europe, we actively engage with regulatory sandboxes and innovation hubs in the UK (FCA), France (ACPR), Netherlands (DNB), and other jurisdictions.

Organisation Members

List of our members and affiliated entities: As a B2B financial technology platform, Salt Edge does not have traditional "members" but maintains extensive partnerships and client relationships across the global financial ecosystem. Our network encompasses financial institutions, technology companies, and service providers who integrate our open banking solutions: Financial Institution Clients: Our platform serves over 300 financial institutions globally, including established banks, digital challenger banks, and payment institutions. Notable clients include Société Générale (France), one of Europe's leading financial services groups utilizing our compliance solutions; Bank of East Asia Limited (Hong Kong), leveraging our API platform for digital transformation initiatives; Guaranty Trust Bank Limited (Nigeria), implementing our open banking gateway for African market expansion; Landsbankinn (Iceland), using our PSD2 compliance suite; and Western Union, integrating our payment initiation services for enhanced money transfer capabilities. Fintech Platform Partners: We power numerous financial technology platforms including BudgetBakers, creators of Wallet personal finance app serving millions of users globally; Oval Money, an automated savings and investment platform operating across Europe; MoneyWiz, premium personal finance software with advanced budgeting capabilities; FreshBooks, cloud accounting software serving small businesses and freelancers; Doconomy, providing carbon footprint tracking for financial transactions; and Odoo, open-source ERP system with integrated financial management modules. Lending and Credit Sector: Our data aggregation services support leading lending platforms: Crif, global credit bureau and business information provider; Thincats, UK-based alternative business lending platform; LendEx, automated lending decision platform; Forward Advances, merchant cash advance provider; Nova Credit, cross-border credit bureau; and numerous other alternative lending providers across Europe, enabling instant creditworthiness assessment through bank account data analysis. Accounting and ERP Integration Partners: Salt Edge solutions are integrated with major accounting platforms including QuickBooks, enabling automated bank reconciliation; Xero, providing real-time financial data synchronization; Sage, supporting enterprise financial management; SAP, through certified integration partnerships; Microsoft Dynamics 365, for comprehensive business automation; and specialized vertical solutions for industries including retail, manufacturing, and professional services. Payment Service Providers: We collaborate with payment institutions including Mollie, Dutch payment service provider serving 120,000+ merchants; Adyen, global payment platform for enterprise businesses; Checkout.com, international payment processing platform; PayPal, through technical integration partnerships; Stripe, supporting enhanced payment verification; and numerous regional payment processors across European markets. Technology Infrastructure Partners: Our technical ecosystem includes: Amazon Web Services (AWS), strategic cloud infrastructure partner; Microsoft Azure, supporting hybrid deployment models; Google Cloud Platform, for data analytics services; Cloudflare, ensuring global content delivery and DDoS protection; MongoDB, database technology partner; Elastic, for search and analytics capabilities; and various specialized security and monitoring solution providers. Developer Community: Over 5,000 registered developers actively use our sandbox environment and API documentation, representing: independent software vendors creating vertical market solutions; system integrators implementing enterprise deployments; startup founders building innovative financial services; corporate innovation teams from Fortune 500 companies; and academic researchers studying open banking adoption patterns. Regulatory Technology Partners: We maintain partnerships with: ComplyAdvantage, for AML/KYC screening services; Jumio, identity verification technology; Onfido, biometric authentication solutions; LexisNexis Risk Solutions, compliance data services; and various other RegTech providers ensuring comprehensive compliance coverage across jurisdictions. Consulting and Implementation Partners: Our solutions are implemented through partnerships with: Deloitte, PwC, EY, and KPMG, providing implementation services for enterprise clients; Accenture, Capgemini, and IBM, offering digital transformation consulting; specialized fintech consultancies including 11:FS, Fintech Futures, and regional advisory firms; and certified implementation partners across European markets. Industry Platform Integrations: Salt Edge is integrated with: Temenos, core banking platform provider; Finastra, financial services software; Mambu, cloud banking platform; Thought Machine, next-generation core banking; nCino, cloud banking operating system; and various other banking technology platforms enabling rapid deployment of open banking capabilities. Data Enrichment Partners: Our data enrichment ecosystem includes: Codat, business financial data platform; Plaid (for non-European markets comparison); TrueLayer (collaborative initiatives); Yolt (ING's open banking platform); and specialized categorization and merchant identification services enhancing transaction data value. All partnerships and client relationships are governed by strict data protection agreements ensuring compliance with GDPR, PSD2, and relevant financial regulations. Our partner network continues to expand as open banking adoption accelerates across global markets, with new integrations added monthly to serve evolving market needs. For a complete and updated list of our integration partners and supported financial institutions, please visit: https://www.saltedge.com/products/account_information_api/dashboards/banks

Additional Information

he company does not receive any EU or public funding. Its operations are fully financed by commercial revenue generated from clients. Total budget for the most recently closed financial year amounts to CAD 9,980,372. For EU reporting, this has been converted to EUR using the December 2024 FX rate (1 CAD ≈ 0.6713 EUR), resulting in an equivalent of approximately EUR 6,702,000. Salt Edge actively participates in major European fintech and digital innovation forums, contributing to the development of open banking and financial technology ecosystems. The company regularly takes part in events such as Money 20/20 Europe, SiGMA Europe, FinTech Connect, and other EU-supported initiatives that promote collaboration between financial institutions, regulators, and technology providers. All these activities cost the company up to EUR 200 k per year.